All Forum Posts by: Bill Florence

What is your average DCR ? (lenders typically require 1.25 ) but in my experience/opinion if not closer to 2.0 it is hard to maintain good cash flow considering all costs. Just my 5c

Just beware and do your homework. Not all turnkey providers have your best interest in mind. And remember you are just buying a flip with a renter you did not pick

Possible pitfalls: 

Poor rehab work (not up to code or rental ordinance) and just really bad workmanship

Bad tenants - put in place just to get it sold

Bad neighborhoods and previously boarded properties, this also happens more than you think. I have seen many questionable properties purchased for literally a few thousand, marginally fixed up, and advertised with a "renter" for 30-50k way above FMV for the area

Property Managers - you must interview and research them and read contract fine print

I know there there are good ones out there, just a cautionary tale if you are new to this

Need to connect with a pro local to St Louis to assist with locating and qualifying multiplexes for buy and hold investor. 

In my market higher end rentals get us as much attention as lower income rentals. We never had a problem finding qualified tenants, quickly for longer term leases.  Many were in town on temporary relocation or transitioning while a home was being built, etc. So really depends on your area. One thing to note, just because someone can afford 2,3,4k+ rents does not mean they will take better care of your property. Once of our worst tenants ever was paying almost 3k month on a 2 year lease.

In my locale HOA's are required to file bylaws and rules and regs with county clerk and recorder and these become public. Maybe check with local city/county.

As long as she is investor friendly and is okay dealing with a remote buyer I will call.

Thanks !

Looking for an experienced realtor who knows the areas west of St. Louis and multiplex investing.

1962 Ferrari 250GT California - park it, cover it and wait....

@David Faulkner My business model is set in stone and I don't have the time or will to adapt a new one so I take it to where I can plug and play. Yeah the PM challenge, I am self managing now but will eventually need to choose the one with the least "flaws". Best of luck.

Welcome !